A view from the US

Syndicated Washington Post article

Inflation threatens to burst Ireland’s bubble
By Steven Pearlstein
Washington Post

fortwayne.com/mld/journalgaz … 158480.htm

Posted on Sun, Jul. 30, 2006

DUBLIN – The irony of the Irish economic miracle is surely not lost on the countries of Western Europe that poured billions of dollars into their poor, struggling neighbor to help integrate it into the much wealthier European Union.

In one respect it was a tremendous success, creating the continent’s fastest-growing and most productive economy.

But in another, Ireland’s success represents a profound embarrassment for the European establishment. In terms of the markets for its products and the source of its investment capital, Ireland is much more heavily oriented toward the United States – and euro holdout England – than it is to the countries of Western Europe.

With its low tax rates and flexible labor markets, its economic model and business culture are “more Boston than Berlin,â€